1 February 2007

2 Profile F.H.L. KIRIAKIDIS is a specialist in: ■ Marble quarrying ■ Marble processing ■ Distribution and sale of marble products ■ Production, sale and distribution of dry mortars ■ Working force 682 (Greece: 226; MACEDONIA: 403; China: 53) ■ Major Distribution centres in Athens, Salonica, Italy, China F.H.L. KIRIAKIDIS is: ▲ An international player (65% of revenues in 2005 stem from abroad ▲ The leading regional marble producer ▲ A global leader in the manufacture of premium quality snow- white marble

3 History ▲ FHL Kiriakidis was established in 1991 ▲ FHL was listed on the Athens Stock Exchange in 1998 ■ FHL acquired Mermeren Kombinat in 2000 ■ FHL owns 88% of Mermeren Kombinat ■ FHL Mermeren was listed on the ASE in 2004 ► FHL established Cosmos Building in China in 2000 ► FHL owns 49% of Cosmos and Mermeren owns 51%

4 Production Capability ▲ FHL Kiriakidis group currently has an annual marble production capacity of 22,000 m 3 ▲ FHL Mermeren (FYROM) has an annual marble production capacity of 25,000 m 3 ▲ FHL owns excavation sites (marble quarries) in: ■ Greece (Thassos, Granitis, Volakas, Nevrokopi) ■ Macedonia (Prilep) ▲ FHL has marble reserves of 5.3 million m 3 ■ 70 years of production with current capability and speed ▲ Product line includes: ● a diverse range of high quality marbles ● marble by-products such as processed plates, floor tiles, etc. ● prefabricated mortars

5 Strategic Business Units

6 Mermeren Kombinat  Acquisition 100% of Mermeren Kombinat at Prilep in October 2000  Acquisition cost: 16,3 million €  FHL acquired 12 new quarries in Prilep  Excavation of the snow–white Sivec marble  Total marble excavation: tons in tons in 2003  Turnover: 13.4 ml € in 2006  13.9 ml € in ,2 ml € in 2004  The factory’s total area is 45,000 m2  The factory’s main building, covering an area of 9,000 m2

7 Strategy

8 Strategic Intent ■ To utilize our know-how and production capabilities for projects like the Grand Mosque ■ To target added value, “artistic” marble projects globally ■ To increase productivity at the our quarries and factories ■ To establish the new factory at Kilkis ■ To proliferate into more dry mortars products ■ To increase sales in the Far East region through Cosmos

9 SWOT Analysis  Company reputation  Near monopoly on high quality white marbles  Experience & high quality of personnel and management  High experience in the quarrying and processing of marble  Strong worldwide distribution network  Highly leveraged  Spread out facilities  Potential to expand further FHL operations in China  Acquisition of monopolistic position in beige and white marbles  Large raw materials deposits  Significant experience in the management of large quarries  Expansion of the worldwide distribution network  Significant competition from both domestic and international competitors creating pricing pressure  A significant economic downturn in one of the Company’s key markets, may significantly impact its results as marble products are considered as luxury items  Regulatory problems regarding marble quarrying in Greece Strengths ThreatsOpportunities Weaknesses

10 Financials

11 FHL Group: Income Statement (ml €) e2007F Revenues EBITDA Margin29,3%24.8%26.2%29.9% EBT Margin12,4%12.2%12.5%13,9%

12 FHL Group: Balance Sheet (ml €) F2007F Assets Inventories Other current assets Total Assets Total shareholders’ equity Long term debt Short term debt

13 Athens Stock Exchange FHL Athens Stock Exchange: KYPM Reuters: KRKr.AT Bloomberg: KYRM GA Share Price (20/3/07): € 2.20 Average Trading Daily Volume:67,424 Capitalization Feb 2007: € 54,5 ml Shares Outstanding: Shareholders’ Structure Kyriakidis family53.0% Institutional Investors8.3% Retail Investors38.7% Total100% Shareholders’ Structure FHL Kyriakidis Group88% Employees2% Investors10% Total100% FHLM Athens Stock Exchange: MEPKO Reuters: FHLr.AT Bloomberg: MERKO GA Share Price (20/2/07): € 7.60 Average Trading Daily Volume:2,155 Capitalization Feb 2007: € 35.6 ml Shares Outstanding: 4,687,000

14 Investment Case ▲ FHL Kiriakidis Group: ► is a major force in the global marble industry ► has a worldwide reputation for delivering on time ► has the visibility as an artistic marble entity ► has prime marble stock for almost 100 years ► has expanded into the fast growing economies of the Far East ► has penetrated the Middle East markets